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Working Paper
Can financial innovation help to explain the reduced volatility of economic activity?
Elmendorf, Douglas W.; Sichel, Daniel E.; Dynan, Karen E. (2005)
The stabilization of economic activity in the mid 1980s has received considerable attention. Research has focused primarily on the role played by milder economic shocks, improved inventory management, and better monetary policy. This paper explores another potential explanation: financial innovation. Examples of such innovation include developments in lending practices and loan markets that have enhanced the ability of households and firms to borrow and changes in government policy such as the demise of Regulation Q. We employ a variety of simple empirical techniques to identify links between ...
Finance and Economics Discussion Series , Paper 2005-54

Conference Paper
General discussion : the evolution of economic understanding and postwar stabilization policy
Fischer, Stanley (2002)
Proceedings - Economic Policy Symposium - Jackson Hole

Journal Article
Should the central bank be responsible for regional stabilization?
Cogley, Timothy; Schaan, Desiree (1994)
FRBSF Economic Letter

Journal Article
Stabilization policy in world context
Riordan, Michael; Keran, Michael W. (1976-10)
Economic Review , Issue Fall , Pages 5-19

Working Paper
A note on oil dependence and economic instability
Aguiar-Conraria, Luis; Wen, Yi (2007)
We show that dependence on foreign energy can increase economic instability by raising the likelihood of equilibrium indeterminacy, hence making fluctuations driven by self-fulfilling expectations easier to occur. This is demonstrated in a standard neoclassical growth model. Calibration exercises, based on the estimated share of imported energy in production for several countries, show that the degree of reliance on foreign energy for many countries can easily make an otherwise determinate and stable economy indeterminate and unstable.
Working Papers , Paper 2006-060

Journal Article
A monetarist model for economic stabilization
Carlson, Keith M.; Andersen, Leonall C. (1986-10)
Review , Issue Oct , Pages 45-66

Discussion Paper
Have postwar economic fluctuations been stabilized?
Diebold, Francis X.; Rudebusch, Glenn D. (1990)
Previous investigations of whether the volatility of the U.S. economy diminished after World War II have been inconclusive because of questionable prewar macroeconomic aggregates. We examine, more broadly, the hypothesis of the stabilization of the postwar economy by focusing on the duration of business cycles, rather than their amplitude; in the process, we avoid the debate about the quality of prewar aggregates. Using distribution-free statistics, we find clear evidence of postwar duration stabilization in terms of a shift toward longer expansions and shorter contractions. Moreover, we find ...
Discussion Paper / Institute for Empirical Macroeconomics , Paper 33

Working Paper
Nonlinearity and chaos in economic models: implications for policy decisions
Butler, Alison; Bullard, James B. (1992)
This survey paper discusses the policy implications that can be expected from the recent research on nonlinearity and chaos in economic models. Expected policy implications are interpreted as a driving force behind the recent proliferation of research in this area. In general, it appears that no new justification for policy intervention is developed in models of endogenous fluctuations, although this conclusion depends in part on the definition of equilibrium. When justified, however, policy tends to be very effective in these models.
Working Papers , Paper 1991-002

Journal Article
Debt: the threat to economic and financial stability
Kaufman, Henry (1986-12)
Economic Review , Volume 71 , Issue Dec , Pages 3-11

Speech
Regulation and financial innovation
Bernanke, Ben S. (2007)
a speech to the Federal Reserve Bank of Atlanta's 2007 Financial Markets Conference, Sea Island, Georgia (via satellite)
Speech , Paper 286

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